Shirking is most likely to occur when
A) the principal monitors the agents extensively.
B) employees are paid an hourly wage.
C) a piece rate contract is used.
D) an assembly line is used for production.
B
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The first step in measuring the CPI is to
A) select the market basket. B) conduct a monthly survey. C) collect prices for the basket of goods and services. D) interview businesses.
A monopolistically competitive firm faces a relatively less elastic demand curve than a monopolist
a. True b. False Indicate whether the statement is true or false
The U.S. money supply measure that consists of currency plus travelers checks and check able deposits is referred to as
a. M1. b. M2. c. M3. d. M1 + M2.
Suppose that the marginal revenue product of the eighth worker hired is $12 an hour and the wage rate is $10 an hour. We can say that
A. not enough labor is being hired. B. just enough labor is being hired. C. too much labor is being hired.